Arabian Post Staff
The fast-food service sector is expected to grow at 5.8 percent per year to US$4.51 billion in 2022, up from US$3.66 billion in 2018, according to a report by Statista.com, a digital market intelligence provider.
The full-service restaurants revenue in the UAE is expected to reach US$2.34 billion in 2022, up from US$1.94 billion recorded in 2018, while the sales revenue of the coffee and tea shops is estimated to reach US$705 million next year, up from US$584.5 million. The ice cream parlour market is the smallest, with revenue expected to reach US$42.2 million in 2022, up from US$35.4 million in 2018, the report showed.
The total number of operational restaurants and cafés in the emirate of Dubai reached 11,813 at the end of 2018, according to the Department of Economic Development (DED), making Dubai the food capital of the Middle East. In 2018, the number of fast-food chain outlets in the UAE reached 996, followed by coffee and tea shops at approximately 850 outlets.
The global restaurant and foodservice industry is worth around US$34.25 billion and is estimated to grow to US$56.3 billion by 2027. According to estimates for 2020, the worldwide number of foodservice establishments was around 23.13 million. Only around 300,000 of those were based in the Middle East and Africa, says Statista.
With the high purchasing power capacity of the UAE residents, the market is becoming more robust with every passing day. Food outlets in the UAE have now become synonymous with a place to celebrate occasions and enjoy with family members.
High disposable income, cosmopolitan environment, diverse dining choice from Mexican to Korean, the UAE is a haven for diners – from fast-food to casual dining to fine-dining – the country offers the best when it comes to the choice of food and dining experience.
A report by Mordor Intelligence shows close to 32 percent Emiratis are willing to spend Dh100-300 while eating outside. Those willing to spend Dh 50-100 is about 39 percent.